Product Lifecycle Engineering and Management a Life Line for SMEs in Nigeria: An Appraisal

Abstract

In this 21st century and beyond characterized with rapid development change in technology and innovations, organizations must relentlessly improve their product processes and systems, if they hope to outperform their competitors and maintain relevancy. Invariably, every product has 'life', starting with the design/development, followed by resource extraction, production, use/consumption, and end-of-life activities. However,, Product Lifecycle Engineering and Management (PLM), represents a very important approach for achieving a more sustainable paradigm of work and life, a more sustainable product development, manufacturing, use and dismissal. It is remarkable to note that SMEs account for 97% of all businesses in Nigeria, employs 50% of Nigeria's workforce, and produce 50% of Nigeria's industrial output, but most of these companies (SMEs) are short-lived. The sustainability of these companies and their products' lifecycle has become imperative in order to increase their contributions towards economic, social, political, environmental, and technological development of the Nigeria nation. This paper therefore, shows that effective and efficient PLM will inevitably play a vital and unprecedented role in creating sustainable product environment for SMEs in Africa and most especially fast growing economy like Nigeria.

Keywords: Lifecycle, Management, Sustainability, SMEs, ICT Solution, Product Life, Development